Bitcoin Net Liquidations Near -$40M as Analysts Warn of Further Downside

As per Bijié Wǎng, Bitcoin remains above $110,000 after a volatile session, with billions in liquidations reported. The sharp pullback erased most of last week’s gains, highlighting ongoing volatility. Despite heavy selling pressure, Bitcoin has stabilized near a key liquidity zone, with bulls and bears currently in a tug-of-war. Market sentiment remains cautious as traders assess further downside risks. Top analyst Axel Adler noted that while liquidations continue to exert bearish pressure, the intensity has not reached cascading levels, suggesting a deep crash is unlikely. Net liquidations remain negative, near -$40 million, indicating leveraged positions are still being unwound. Adler emphasized that the current liquidation strength Z-score (365-day) is neutral to moderate, meaning the market lacks systemic momentum for a cascading sell-off. Bitcoin is currently trading near $113,025, struggling to reclaim levels above $115,000. The 50-day and 100-day moving averages now act as resistance around $114,600–$115,000, with the 200-day MA at $115,077 reinforcing this barrier. On the downside, $112,900 offers temporary support, with the next key level near $110,000. A break below that could open the door to $108,000, intensifying bearish sentiment.